Vegan Ready Meal Leader Allplants Seeks Buyer to Rescue Business After Mounting Losses

British plant-based ready meal brand Allplants is seeking a buyer to rescue the business after facing mounting losses. The company has filed a notice of intention to appoint administrators to explore options for saving the business from liquidation, including restructuring or a potential sale. Despite experiencing initial success with its vegan meals, Allplants recorded losses of £9.7 million in seven months, attributed to various factors such as inflation, supply chain disruptions, and a shift towards profitability.

The distressed state of Allplants reflects a wider decline in the vegan ready meal category in the UK, with sales dropping by 20% between 2022 and 2023. Other plant-based businesses in the UK have faced similar challenges, with hopes that a potential buyer will come forward to rescue Allplants, as seen with other companies in the industry.